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Nigeria Focuses on Legal Clarity to Attract Energy Investors Amid Net-Zero Goals
Photo: Businessday NG
2026-07-21 04:39   Business   10

Nigeria Focuses on Legal Clarity to Attract Energy Investors Amid Net-Zero Goals

The Nigerian petroleum ministry is prioritizing regulatory certainty over financial incentives to attract oil and gas investors, ensuring the country can achieve net-zero targets without disrupting its energy sector.Senator Heineken Lokpobiri, minister of state for petroleum resources, emphasized that capital follows enforcement, not just legislation.

The Petroleum Industry Act serves as the legal foundation for regulators, with upstream and downstream rules being refined to minimize ambiguity for operators.The Climate Change Act and domestic carbon-credit framework signal Nigeria's intent to compete for climate-linked investments.Lokpobiri warned that current regulatory choices will shape Nigeria’s energy sector for decades.

Meanwhile, African Petroleum Producers’ Organisation secretary-general Farid Ghezali highlighted the continent’s fragmented legal systems, which inflate costs and deter cross-border projects like shared gas markets or interconnected power grids.He urged alignment across borders without sacrificing national sovereignty.Legal experts stressed the need for stronger dispute-resolution mechanisms to balance climate commitments with energy security and economic growth.

Full reading at Businessday NG

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